HELP! Encumbered CR

[Melchizedek]

San location mo TS? Maybe I can refer you to the company/people who did all those things for us.

Yung balak kong bilin na AUV, naka encumbered din, pero may document ng full payment, pero walang release ng mortgage...
He is willing to less 5K para ako na mag-asikaso ng release... Asking lang kung mahihirapan ako sa deal?

[SpinCycle]

Yung balak kong bilin na AUV, naka encumbered din, pero may document ng full payment, pero walang release ng mortgage...
He is willing to less 5K para ako na mag-asikaso ng release... Asking lang kung mahihirapan ako sa deal?

Hindi enough ang 5K para sa hassle ng pag release ng encumbrance. I negotiate mo pa to 20K. Or sya na mag process. Kung ayaw nya, walk away. Baka may issue yan.


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[ray_noel]

Hindi enough ang 5K para sa hassle ng pag release ng encumbrance. I negotiate mo pa to 20K. Or sya na mag process. Kung ayaw nya, walk away. Baka may issue yan.


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Hi sir, how hassle po ba yung pag process ng release ng encumbrance? I fully paid my ecosport and plan to sell it pero di ko pa na process ang encumbrence.

My friend in casa told me that it would only cost around 2k and i can just offer less 5k for them to process the removal of encumbrance...

Hirap kasi nito, sa cebu ko na acquire ang loan so sa cebu ko din ipaprocess sa registry of deeds and im in bohol... grrr...


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[SpinCycle]

Hi sir, how hassle po ba yung pag process ng release ng encumbrance? I fully paid my ecosport and plan to sell it pero di ko pa na process ang encumbrence.

My friend in casa told me that it would only cost around 2k and i can just offer less 5k for them to process the removal of encumbrance...

Hirap kasi nito, sa cebu ko na acquire ang loan so sa cebu ko din ipaprocess sa registry of deeds and im in bohol... grrr...


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Hassle sya in terms of coordinating with different entities like the bank and the Register of Deeds. Pabalik-balik ka pa minsan if hindi maayos yung mga kausap. And like you mentioned, malayo pa yung dadayuhin ng buyer just to get the encumbrance cleared if same area kayo nakatira.

If willing yung buyer to work on it, then it's all good. Personally, I find it too much of a hassle and I would just ask the seller to finish all the paperwork beforehand.

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[babkalakal]

Hi sir, how hassle po ba yung pag process ng release ng encumbrance? I fully paid my ecosport and plan to sell it pero di ko pa na process ang encumbrence.

My friend in casa told me that it would only cost around 2k and i can just offer less 5k for them to process the removal of encumbrance...

Hirap kasi nito, sa cebu ko na acquire ang loan so sa cebu ko din ipaprocess sa registry of deeds and im in bohol... grrr...


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sounds correct around 2k lang removal ng encumbrance. you can sell the car naman tapos buyer na magpa remove ng Encumbered. mag usap nalang kayo if willing yun buyer as long as complete ang documents. ang mahirap lang kun tulad nun nawawala nga ang cancellation of mortgage or original cr and the like.

[ray_noel]

sounds correct around 2k lang removal ng encumbrance. you can sell the car naman tapos buyer na magpa remove ng Encumbered. mag usap nalang kayo if willing yun buyer as long as complete ang documents. ang mahirap lang kun tulad nun nawawala nga ang cancellation of mortgage or original cr and the like.

In case like this, deed of sale will be sufficient right (not open deed of sale)? Just incase accident will happen, it will be the buyer’s (name in the deed of sale) responsible already to settle the issue? ....

If that would be fine, i plan to have deed of sale stating all the facts about the docs that he will be receiving including all encumbered related docs...

This is not my first time to dispose a car however this is the first with encumbered cr plan to dispose...


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[babkalakal]

In case like this, deed of sale will be sufficient right (not open deed of sale)? Just incase accident will happen, it will be the buyer’s (name in the deed of sale) responsible already to settle the issue? ....

If that would be fine, i plan to have deed of sale stating all the facts about the docs that he will be receiving including all encumbered related docs...

This is not my first time to dispose a car however this is the first with encumbered cr plan to dispose...


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i am not a lawyer pero i think just make sure you have a complete notarized deed of sale indicating such and you should be ok.

[ray_noel]

i am not a lawyer pero i think just make sure you have a complete notarized deed of sale indicating such and you should be ok.

Thanks for the thoughts! Highly appreciate it!


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[Melchizedek]

Hindi enough ang 5K para sa hassle ng pag release ng encumbrance. I negotiate mo pa to 20K. Or sya na mag process. Kung ayaw nya, walk away. Baka may issue yan.


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Thank u bro sa pagsagot, hirap pala pg pang 2nd hang lng budget.

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[Melchizedek]

Thank u bro sa pagsagot, hirap pala pg pang 2nd hang lng budget.

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Pahabol pa na question po.
May isa pang ka deal, naka encumbered din pero may released na ng mortgage. Sapat na ba yun with Open deed of sale, OR
and CR. with the ID's... plan ko kasi na tumagal yung vehicle sa akin at ilipat kung sakali sa name ko yung vehicle...
#firstimer

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[SpinCycle]

Pahabol pa na question po.
May isa pang ka deal, naka encumbered din pero may released na ng mortgage. Sapat na ba yun with Open deed of sale, OR
and CR. with the ID's... plan ko kasi na tumagal yung vehicle sa akin at ilipat kung sakali sa name ko yung vehicle...
#firstimer

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Bakit Open Deed of Sale? Pang ilang owner na yung seller?


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[babkalakal]

Pahabol pa na question po.
May isa pang ka deal, naka encumbered din pero may released na ng mortgage. Sapat na ba yun with Open deed of sale, OR
and CR. with the ID's... plan ko kasi na tumagal yung vehicle sa akin at ilipat kung sakali sa name ko yung vehicle...
#firstimer

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yup doable na ito. but make sure valid pa mga id with signature also kapag sa kumpanya naka pangalan yun auto kailangan mo pa ng sec. cert authorizing the sale.

[Zian]

Hi sirs,

Nkabili ako ng MPV gusto ko sana ilipat sa name ko. Ano po kaya pinakamadaling procedure? Taga NCR po ako yung nabili ko is sa bacolod po originated and hindi pa nabayaran yung cancellation sa registry of deeds, kailangan daw po sa bacolod mismo RD bayaran. Bale po yung nabili ko is voluntary surrendered sa bank then nabili nung nila thru bidding then binenta po saakin. Thank u

[kelxcruz]

Hi sirs,

Nkabili ako ng MPV gusto ko sana ilipat sa name ko. Ano po kaya pinakamadaling procedure? Taga NCR po ako yung nabili ko is sa bacolod po originated and hindi pa nabayaran yung cancellation sa registry of deeds, kailangan daw po sa bacolod mismo RD bayaran. Bale po yung nabili ko is voluntary surrendered sa bank then nabili nung nila thru bidding then binenta po saakin. Thank u

Same situation tayo sir. Sa akin naman eh taga QC ako at sa Isabela yung RD. Goodluck sa atin

Anyways, penge naman kami tips mga sir

[babkalakal]

Yung balak kong bilin na AUV, naka encumbered din, pero may document ng full payment, pero walang release ng mortgage...
He is willing to less 5K para ako na mag-asikaso ng release... Asking lang kung mahihirapan ako sa deal?

had gone to a similar situation. actually in this case yun original na mortgagee sa bank is the one who will have to request or secure a 2nd release of mortgage from the bank where the loan was made.

my opinion is maabala masyado. you have to deal with the bank which in the first place hindi naman ikaw yun mortgagee so im not sure if mag papa authorize ka pa or something then another dealing with the RD to cancel the mortgage then lastly another deal with the LTO this time to transfer the CR to your name.

if the seller is unwilling to at least secure the second release of mortgage themselves then walk away from this deal.

In our case kami rin naman yun mortgagee kaya kami na nagasikaso nun nawala yun release.

[dr. d]

Yung balak kong bilin na AUV, naka encumbered din, pero may document ng full payment, pero walang release ng mortgage...
He is willing to less 5K para ako na mag-asikaso ng release... Asking lang kung mahihirapan ako sa deal?

it's a buyer's market out there!
buy a vehicle whose legal owner is also the seller.
it will save you some legwork and some cash.

and to re-iterate my advice to the potential buyer of used car for personal use: "don't rush. the next one might just be better than the one that got away".

[rumplestilt]

Hello po,

May binibili po akong 2nd hand car na encumbered yung CR with supporting documents na release of chattel mortgage and yung promissory note

Yung unang registration po niya sa Muntinlupa.

Do i have to unencumbered the CR first po ba sa Muntinlupa? Or pwede ko na ipatransfer agad sa akin kahit may encumbered pa yung CR niya?
Btw, sa pampanga po ako. Maraming salamat po.

[Ry_Tower]

Hello po,

May binibili po akong 2nd hand car na encumbered yung CR with supporting documents na release of chattel mortgage and yung promissory note

Yung unang registration po niya sa Muntinlupa.

Do i have to unencumbered the CR first po ba sa Muntinlupa? Or pwede ko na ipatransfer agad sa akin kahit may encumbered pa yung CR niya?
Btw, sa pampanga po ako. Maraming salamat po.

Kelangan mo muna pa-unemcumbered sa Muntinlupa yung chattel mortgage bago mo marehistro sa pangalan mo sa Pampanga yang sasakyan para legal lahat.

[chronicle]

I will definitely do this as my last resort, pero dun muna ako sa madali if ever makakuha naman ako ng duplicate CR wala naman nang problema diba? kaso ang worry ko lang na baka pinalagyan ng remarks un CR ko as encumbered or naka indicate na naka sangla sa kanila yun car ko... sigh...

Idk. If docs were faked. Very unlikely that lto will honor it.
But we are in the PH so.......

Hello po,

May binibili po akong 2nd hand car na encumbered yung CR with supporting documents na release of chattel mortgage and yung promissory note

Yung unang registration po niya sa Muntinlupa.

Do i have to unencumbered the CR first po ba sa Muntinlupa? Or pwede ko na ipatransfer agad sa akin kahit may encumbered pa yung CR niya?
Btw, sa pampanga po ako. Maraming salamat po.

Cancel the mortage first. Then go to lto munti to remove the encumbered, then while at it, change owner.

Next registration, just go to your nearest lto branch.

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